Today, the European Parliament approved the extension of the European Fund for Strategic...

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The European Parliament is one of the budgetary arms of the European Union, which means that jointly with the Council, it establishes the annual budget of the EU. This process goes through the EP's Committee on Budgets. The Committee on Budgets also sets down overarching rules on spending and approves the EU's multiannual financial framework, i.e. the EU's medium-term budget plan.